Kucoin Review
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Account minimum
$5 for express trade
Expenses
Spot trading: 0.1% to -0.005% maker fee and 0.1% to 0.025% taker fee for Class A, 0.2% to -0.005% maker fee and 0.2% to 0.05% for Class B; 0.3% to -0.005% maker fee and 0.3% to 0.075% for Class C futures: 0.02% to -0.015% maker fee; 0.06% to 0.03% taking fee; Withdrawal fees vary per coin (see more here)
Types of investment
Cryptocurrencies, NFTs, and Futures
Account minimum
$5 for express trade
Expenses
Spot trading: 0.1% to -0.005% maker fee and 0.1% to 0.025% taker fee for Class A, 0.2% to -0.005% maker fee and 0.2% to 0.05% for Class B; 0.3% to -0.005% maker fee and 0.3% to 0.075% for Class C futures: 0.02% to -0.015% maker fee; 0.06% to 0.03% taking fee; Withdrawal fees vary per coin (see more here)
Types of investment
Cryptocurrencies, NFTs, and Futures
details
Account minimum
$5 for express trade
Expenses
Spot trading: 0.1% to -0.005% maker fee and 0.1% to 0.025% taker fee for Class A, 0.2% to -0.005% maker fee and 0.2% to 0.05% for Class B; 0.3% to -0.005% maker fee and 0.3% to 0.075% for Class C futures: 0.02% to -0.015% maker fee; 0.06% to 0.03% taking fee; Withdrawal fees vary per coin (see more here)
Pros and Cons
general evaluation
Is Kucoin right for you?
Cocoin It is a global crypto exchange offering over 700 cryptocurrencies, including bitcoin, dogecoin, ethereum, polygon, and more. In addition to trading bots, bonuses, Crypto CreditsAnd NFTsfutures, Kucoin also provides an affiliate program and content program that will pay you in commissions and bitcoins.
While the platform has a competitive range of investment products, a big downside is that it is not licensed in the US. However, US users can still use the platform with restrictions. In addition, the Kucoin spot trading fee schedule can be a bit complicated, but you can get a 20% discount if you pay for orders with Kucoin token (KCS).
Kucoin vs Coinbase
You can access cryptocurrencies, NFTs, and futures at Kucoin and Coinbase, but US traders will likely be better off with Coinbase since it is licensed in the US. US users ultimately have fewer trading restrictions, compared to Kucoin.
Kucoin has a much stronger investment selection, offering more than 700 digital assets. But Coinbase is also a better choice for institutional clients, as it offers a wide range of services, including compliance, trading, projects, and more.
Kucoin vs. Gate.io
Kucoin and Gate.io both offer a wide range of investment products, including cryptocurrencies, crypto loans, futures contracts, NFTs, and more.
Kucoin offers more than 700 cryptocurrencies, but Gate.io offers more than 1,400 cryptocurrencies, so it could be a better option for those who want to choose a more flexible investment. Plus it is licensed in the US, so US traders may be better off with the platform. However, Kucoin offers a more extensive list of NFT franchises (for example, partial NFTs, NFT launches, and more).
Ways to invest with Kucoin
Digital currencies
Cocoin Offers hundreds of Digital currencies, including bitcoin, ethereum, ripple, solana, and more. Additionally, it gives traders multiple payment options to buy cryptocurrencies. Among these are express commerce, P2P, and third party. The first option allows more than 70 payment methods, such as Visa and Mastercard. The second option better supports those looking to send assets to (or receive assets from) other users, and the third option relies on third-party platforms.
You will also have several ways in which you can trade. Kucoin offers spot trading, margin trading (for those who want to borrow to place trades), cryptocurrency transfers, and the Kucoin Trading Bot. This allows you to automate your trading on the platform, so it can be an ideal choice for those who want to passively build wealth without constantly monitoring the market.
The crypto platform also has room in its heart for futures Traders, as it provides abundant futures and instruments with up to 100x leverage. Additionally, it offers a downloadable, self-saving wallet that allows you to store your cryptocurrencies and NFTs.
The crypto platform also uses penetration testing to ensure that the security of the wallet is up to par. Web3 wallet gives you complete control over your cryptocurrency, but it is not the best choice for those who prefer cryptocurrency wallets (See more here).
Finally, Kucoin offers multiple products for NFT users, including NFT trading platform, NFT launch platform, and NFT fractional shares.
Kucoin Earn products
You may also want to consider Kucoin if you are interested in cryptocurrency lending. They currently allow lending tenures of seven days, 14 days, and 28 days. For example, if you were to lend 3159 XRP for a period of 28 days, you would earn a daily interest rate of 0.095%.
It also provides Kucoin Earn, a wealth management service platform that allows you to earn interest on various assets. It offers staking, flexible savings, ETH 2.0, and polkadot, and you can choose fixed or flexible terms. Ethereum, for example, currently has an interest rate of 104.96% for a fixed term. If you were to choose a flexible term for the same cryptocurrency, you would get a rate of 0.75%.
Cocoin: Is he trustworthy?
Personal Finance Insider considers each company’s best business bureau profile when assessing trustworthiness, however Cocoin He currently does not have a profile with the Better Business Bureau.
Although Kucoin does not have a BBB profile, it is still necessary to do thorough research before creating an account with any investment platform. While its track record is mostly clear, Kucoin suffered a hack in millions of dollars in 2021.
Kucoin – Frequently Asked Questions (FAQ)
Kucoin is not currently available in the US, but US users can still use some of its services. It is wise to consider other cryptocurrency exchanges if you are looking for full access to Kucoin crypto products and services.
Kucoin has the fourth largest trading volume in the world, according to CoinMarketCap. Founded in 2017, the platform supports more than 200 countries. It also uses several security measures to keep your assets safe. These include multi-factor authentication, regular penetration testing, strict access control, and 24/7 monitoring.
No. Kucoin is not registered in the US, so it does not report to the IRS.